Also the X wave will trap both bears and bulls so trades with good experience should ideally trade
If the market instead forms a sloping with a slow and painful incline then the X wave is not happening and perhaps the sub- wave 1 of Wave 5 which means a long impulse up move can be expected.
Protection should be sought against FED announcement and BREXIT. Contemplating buying 8100 puts if the trade is active overnight.
Since based on ABC pattern there are 210 Nifty Points in the kitty. Worth taking a pot shot at this with a risk of giving back 50 or 80. However if it is a fresh trade than it is very difficult to Navigate.